Consumer Durable Market in India Y-o-Y Growth of Consumer Durables in India (%-age) *Source: Group compilation from sources http://www.expresscomputeronline.com/20080121/market02.shtml, http://www.pcb007.com/pages/zone.cgi?a=15755, http://info.shine.com/Industry-Information/Consumer-Durables/902.aspx
Category-wise Dispersion (2009) *Source: Group compilation from sources, , http://www.scribd.com/doc/24934409/Changing-Consumer-Durables-Industry-in-India
Highly competitive market with approximately 100 different brands available including 3-4 leading brands, 15 brands that are well known names of electronics and consumer electronics industry and other local and cheap Asian imports.
*Source: Group compilation from sources http://www.indiahousing.com/mp3-players-india.html, http://www.scribd.com/doc/24934409/Changing-Consumer-Durables-Industry-in-India
Market in Developed Countries The market in 2010 till September has shown a decline of 12% in unit sales, 7% decline in sales revenue Only segment with a slight boom was touch screen mp4 players Source: GfK Retail and Technology Global Report, September 1, 2010
The Indian economy is growing by 8% (approx), with the increase in disposable income and positive growth in upper-class, upper middleclass and middleclass pose serious opportunity for consumer durables.
The sale of consumer durables have reported an average 8.5% growth through out last 4 years with a CAGRvalue of sales as 7%.
The Category ‘Portable MP3’ player is a highly fragmented market with nearly 100 different brands available with top 5 brands having 38% of market share.
Section II: THE CONSUMER
Consumer Demographics Based on Age Group Age Group
The majority of MP3 Player buyer is of the age group 18-40 years, middleclass or upper middleclass, from tire 1, tire 2 cities.
*Source: Group compilation from sources www.marketresearch.com/product/display.asp?productid=1375090, www.epinions.com /Electronics
Ownership of Popular Physical Assets/Durables at Urban Household Level *Source: JUXT, Indian Urbanites 2009 Study
Motivation Behind Use of Electronic Gadgets *Source: JUXT, Indian Urbanites 2009 Study
Hobbies and Interest: Urban *Source: Marketing Whitebook
Frequency of Listening to Music Total Listening to Music Use of MP3 Players as a Music Player Though the average price of Portable MP3 player is presently `1000, its not perceived as an utilitarian product *Source: Primary Research
Usage of Portable MP3 player Place of Use Sharing of MP3 Player High degree of personal involvement associated with the product *Source: Primary Research
Attributes of Importance in Choosing a Brand High involvement product, ego-centric Scale of 1-5, 1 being least important and 5 as most important *Source: Primary Research
Brand Perception Apple® and Sony® receiving the highest association weight-age and highest brand recall (unaided) again goes on to establish the fact that this category is considered above utilitarian
Purchase: Influencers Establishes the high dominance of young generation/youth in the purchase of the category *Source: Primary Research
Point of Purchase Accompanied By Point of Purchase Motive of Purchase
Well thought and planned purchase, preference of modern trends and influenced by peer